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Considering how recently PBs were updated... chances of another update anytime soon are practically nil.

Until G5s are ready to go into PBs -- which sure as hell isn't happening in the next couple of weeks -- about all you can expect out of the next PB updates is a tiny speed bump, and maybe, just maybe, the 12" getting some of the 15"/17" features, like gigabit ethernet and a lighted keyboard. I wouldn't expect such an update until the fall at the earliest.

The only major surprise I can imagine in the next PB updates is not a G5, but an upgraded G4 -- lower power and faster FSB, perhaps, along with higher clock speeds.

After baiting my time by holding on to my Pismo, I just purchased a 17" PowerBook at the Apple Store at Lenox in Atlanta. I dove in head first this time: just picked up a 20 GB iPod a few months prior (I was one of the 730,000), got an iSight, and gave into my urges to embrace wireless with AirPort Extreme. Then I turned and bumped the RAM up to 1GB. I'm thrilled with my new PowerBook. These machines are a fabulous meshing of raw beauty, form, and function.

My single complaint is only to criticize Apple's oversight in including only one 400Mbps Firewire port on these machines.

If you believe the purchase to be saving you money inn the first place, I'd say go for it and grab a new PowerBook.